Homeowners in foreclosure are increasingly plotting a graceful landing that leaves them not in dire straits following an eviction, but with the same or even better living standards than before they defaulted. A study released this summer by a Federal Reserve Board discussion group found that homeowners post-foreclosure are bucking conventional wisdom that dictates they …
Category Archives: Regional
Residents plan cohousing condos
The creators of a new and unusual downtown condominium project have only the very neighborly in mind. The co-owners of Walnut Commons aren’t looking for neighbors interested in just borrowing a cup of sugar or waving “hello” as they pull out of their driveways. Walnut Commons is a proposed cohousing community that would include 19-21 …
West Palm Beach’s CityPlace is target of foreclosure suit
A lender has filed foreclosure against CityPlace, the high-profile shopping complex that’s facing financial woes in spite of its high occupancy.CityPlace fell behind on its $150 million loan in March, and an entity affiliated with LNR Partners of Miami Beach on Thursday filed a foreclosure suit in Palm Beach County Circuit Court. When contacted, CityPlace …
Continue reading “West Palm Beach’s CityPlace is target of foreclosure suit”
Vacant North Lake Way lot with Intracoastal frontage sells for $5.17 million
A vacant lakefront lot near Dolphin Road at 1348 N. Lake Way has sold for about $5.17 million, according to a warranty deed recorded Monday by the Palm Beach County Clerk’s office. With 156 feet of frontage on the Intracoastal Waterway, the lot is 253 deep and lies several blocks south of the island’s northern …
Continue reading “Vacant North Lake Way lot with Intracoastal frontage sells for $5.17 million”
West Palm Beach firm rolls out a new loan modification for underwater borrowers
Lenders have long resisted cutting loan amounts for struggling homeowners, fearing it would entice more borrowers to default. But one locally based servicer, Ocwen Financial Corp., believes it has found a solution. The company is rolling out a new loan modification plan for underwater borrowers that lowers the amount owed on the loan – thus …
Continue reading “West Palm Beach firm rolls out a new loan modification for underwater borrowers”
Depressed prices spur sales of getaway cottages
Michigan’s vacation home market is crawling toward recovery with an uptick in sales, according to real estate agents across the state. But not all regions are seeing progress, most prices remain discounted, and more buyers are paying all cash. Sales have risen in many areas, ranging from the lower west side to the northwest tip …
Continue reading “Depressed prices spur sales of getaway cottages”